VantagePoint Ventures to invest in wind power Goldwind

Vantage Point is a Silicon Valley-based investor in the cleantech industry. It has more than $4.5 billion in committed capital. VantagePoint Partners (VantagePoint), one of the world’s leading CleanTech investors, today confirmed that it will be one of five cornerstone investors in Xinjiang Goldwind Science & Technology Company (Goldwind) when the Chinese wind energy manufacturer launches an initial public offering on the Main Board of the Hong Kong Stock Exchange early next month.

VantagePoint is recognized as one of the foremost global investors in CleanTech. It was the first major investment firm to recognize and address the CleanTech opportunity and has since committed over US$1 billion to this sector. Over the past 8 years, VantagePoint has made major investments in some of the most innovative CleanTech enterprises, including electric vehicles pioneers Tesla Motors and Better Place, smart grid leaders Trilliant and Tendril, LED lighting manufacturer Bridgelux and major solar-power companies BrightSource Energy and MiaSolé.

In China, VantagePoint has built on its CleanTech legacy since establishing its Beijing office in 2007. In September 2010, the firm launched an RMB680 million fund in the city of Tianjin aimed at the CleanTech and financial services sectors in northern China’s Bohai Rim region. In June 2010, VantagePoint partnered with the China Beijing Environment Exchange to launch the China Low Carbon Index, with the aim of creating a benchmark for the Chinese low carbon investment community and encouraging a greater flow of funds and technologies into China’s leading low carbon enterprises.

This cornerstone investment in Goldwind represents VantagePoint’s most significant investment in a Chinese company to date. Based in China’s Xinjiang province, Goldwind is the world’s fifth largest wind turbine producer, and is the second largest in China. Founded in 1998, the company has operations across Asia, Australia, Europe, and the Americas,with more than 6,000 Goldwind wind turbines currently in service (as of June of this year). The company enjoyed a 7.2% share of the global wind turbine market in 2009.

“This commitment builds on VantagePoint’s heritage of investing in the world’s most exciting CleanTech opportunities,” said Alan Salzman, CEO and Managing Partner of VantagePoint. “As a global company with a regional sales and manufacturing strategy, we believe Goldwind is well positioned for success in all the major wind-energy markets.”

Mr. WU Gang, Chairman, Chief Executive Officer and Executive Director of Goldwind added, “VantagePoint is a widely respected, long-term oriented investor with an excellent track record in the CleanTech industry. We are pleased to welcome VantagePoint as one of our IPO cornerstone investors to support our long-term growth. This investment from a discerning investor like VantagePoint is a clear vote of confidence in both our competitive position in the wind farm industry and future prospects”

VantagePoint Partners is a global leader in funding the transformative companies of the 21st century in the CleanTech, Healthcare and Information Technology sectors. With a best-in-class investment team of business and scientific experts, a broad network of corporate Strategic Partners, accomplished Senior Advisors, and more than $4.5 billion in committed capital, the Firm has the resources and talent to build transformative, industry-leading companies. Headquartered in Silicon Valley with offices in Hong Kong and Beijing, VantagePoint has active investments in over 70 companies, including award-winning CleanTech leaders Better Place, Bridgelux, BrightSource Energy, MiaSolé, Ostara Nutrient Recovery Technologies, Serious Materials, Solazyme, Tesla Motors, Trilliant and Tendril.

Xinjiang Goldwind Science & Technology Co., Ltd.iGoldwindjhas the longest operation history among Chinese wind turbine manufacturers, with strong R&D and independent innovation capabilities. The Permanent Magnet Direct Drive technology owned by the company represents the most advanced technology route in the wind power industry worldwide.

Goldwind’s products are not only widely used by major Chinese power generators, but also sold to international marketplaces such as Europe and Americas. Goldwind was listed in China’s Shenzhen Stock Exchange (Stock Code: 002202) in 2007. The company’s revenue and net profit exceeded 10.7 billion RMB and 1.7 billion RMB respectively for the financial year of 2009. The company was the world’s fifth largest wind turbines producer in terms of newly added installations in 2009.